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falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll still be talking about the same thing we're talking about now. >> although i feel we'll be talking more debt ceiling, as well. >> and speaking of which, president obama is trying a last ditch effort to restart budget talks days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't like
falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll...
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looks good. >> thank you carl. >> see you next time. >>> financials and the fiscal cliff. what is next for the big bank trade after a big run up in 2012? we have sanford bernstein's brad hintz to weigh in. first rick santelli always clean shaven is joining us next working on something for a little later on. >> we have jeff carter. we're going to talk about the fiscal cliff but from a much more cynical perspective. he believes that the cbo's call, if we go over the cliff in recession, well, he doesn't believe him. he says there is a keynesian base. what does it mean? he too cynical? i don't know. tune in in about 11 minutes to find out. >>> financials and the fiscal cliff plus the looming february stress tests is the big bank runup of this year finally coming to a close? brad hintz is an equity research analyst and joins us from new york. good to see. good morning. >> thanks for having me. >> new year is going to be fascinating to watch. dodd frank implementation. let's just talk about the rules first. investors know these are coming and why are the stocks trading up in lig
looks good. >> thank you carl. >> see you next time. >>> financials and the fiscal cliff. what is next for the big bank trade after a big run up in 2012? we have sanford bernstein's brad hintz to weigh in. first rick santelli always clean shaven is joining us next working on something for a little later on. >> we have jeff carter. we're going to talk about the fiscal cliff but from a much more cynical perspective. he believes that the cbo's call, if we go over the...
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cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon publisher of the trends journal thank you. so if you like what you see so far go to our you tube channel youtube dot com slash break in on that and drive check out our facebook page at facebook dot com plus breaking the set there one about what i'm doing when i'm not on air follow me on twitter at abby martin so stay tuned to hear about the top news stories i think the mainstream media missed this past year. if. it is easy to view it is easy to. see feel. such. claim. i am playing i've got a. player. playing. it'll be. a it. so guys you hear me talk about the corporate media on this show every single day i criticize the mainstream press because what they do is a disservice focus of what should be important to average human beings as substituted by ational ism censorship and lies twenty four hours a day seven days a week and now that we're literally days away from two thousand and thirteen it's important look back to some of the most under reported or censore
cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon publisher of the trends journal thank you. so if you like what you see so far go to our you tube channel youtube dot com slash break in on that and drive check out our facebook page at facebook dot com plus breaking the set there one about what i'm doing when i'm not on air follow me on twitter at abby martin so stay tuned to hear about the top news stories i think...
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cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon publisher of the trends journal thank you. some of you like what you say so far go to or you can channel i youtube dot com slash break in on that and scribe check out our facebook page at facebook dot com bust ready to set your one about what i'm doing when i'm not on or follow me on twitter at abby martin so stay tuned to hear about the top news stories i think the mainstream media missed this past year. the been issued free cretaceous free in-store charges free arrangement free risk free. types free. download free broadcast quality video for your media projects a free media dog our teeth on tom. you know sometimes you see a story and it seems so for like sleep you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harvey welcome to the big picture. so if you hear me talk about the corporate media on this show every single day i criticize th
cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon publisher of the trends journal thank you. some of you like what you say so far go to or you can channel i youtube dot com slash break in on that and scribe check out our facebook page at facebook dot com bust ready to set your one about what i'm doing when i'm not on or follow me on twitter at abby martin so stay tuned to hear about the top news stories i think the...
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cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon jailed sunday publisher of the trans journal i think. some of you like what you see so far go to our you tube channel i youtube dot com. well. this month high tech means good help whether it be the latest laser cutters or lifesaving heartfelt russian innovators are working hard to keep you healthy for some companies it's been a winding road from car simulators to cutting edge streaming systems for others it's been a lifetime the work of locking the mysteries of the skull chikatilo on technology we've got the future. please please. please. please. cut cut cut. cut cut cut . so guys you hear me talk about the corporate media on this show every single day i criticize the mainstream press because what they do is a service for focus of what should be important to average human beings as substituted by ational isn't censorship and lies twenty four hours a day seven days a week and now that we're literally days away from two thousand and thirteen it's important loo
cliff all that stuff will have to get you back on again soon have an awesome next year new year's eve and we'll talk to you soon jailed sunday publisher of the trans journal i think. some of you like what you see so far go to our you tube channel i youtube dot com. well. this month high tech means good help whether it be the latest laser cutters or lifesaving heartfelt russian innovators are working hard to keep you healthy for some companies it's been a winding road from car simulators to...
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and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind on anything the president proposes. >> it appears to me the action, if there is any, is now in the senate side and we'll just have to see if we're able, on a bipartisan basis to move forward. >> reporter: senate majority leader harry reid said he too would try to reach agreement. but that was after spending most of the day hammering away at house republicans. reid blamed the current stand off on the inability of house republicans to pass their own plan which would have extended tax breaks for everyone making less than a million dollars a year. >> it's the mother of all debacles. th
and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind...
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cliff. let's listen to harry reid. >> we are here in washington working while members of the house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> now, the speaker of the house, john boehner, sort of retorting to reid, ali. in a conference call he said the leaders should do more -- or pardon me. less talking and more legislating. he wants the senate to take up a bill that the house has already passed to extend all rates and either take it up in whole or amend it. amending it, and changing that threshold down to closer to what president obama wants. a quarter million as a threshold. that seems more likely. we'll watch this meeting. we don't know what will happen, that's the truth much and we'll watch to see what will come out of it. does it seem like perhaps there is a spirit of compromise? or do they come out very far apart. an indication that it will be read as an indication we may go over t
cliff. let's listen to harry reid. >> we are here in washington working while members of the house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> now, the speaker of the house, john boehner, sort of retorting to reid, ali. in a conference call he said the leaders should do more -- or pardon me. less talking and more legislating. he wants the senate to take up a bill that the house...
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the fiscal cliff. >>> the dow erases a 150 point decline on news that the house will be back in session on sunday evening. and time is rubbing out to avoid a strike at 14 major east coast ports. a work stoppage to cost the economy $1 billion a day. it's friday, december 28th, 2012. and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. and it does feel like we're living a bit on the edge of the fiscal cliff, at least. i'm andrew ross sorkin along with joe kernen and becky quick is off today. our guest host this hour, ed kehone. he's the management associate portfolio manager and we are thrilled to have ed aboard for -- i think you'll be here for longer than an hour. you'll be here for the whole broadcast. >> as long as you need me. >> you're like -- how long were you at -- you were at prudential. >> it's owned by prudential, so i've been at peru don'tal for almost 15 years now. >> widely quoted. you know who has made a comeback is ralph -- >> akampora. >> i've see
the fiscal cliff. >>> the dow erases a 150 point decline on news that the house will be back in session on sunday evening. and time is rubbing out to avoid a strike at 14 major east coast ports. a work stoppage to cost the economy $1 billion a day. it's friday, december 28th, 2012. and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. and it does feel like we're living a bit on the edge of the fiscal cliff, at least....
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cliff here. something will be done. and there will be a look back and they'll correct the tax implications for all of us. but the thing they won't be able to do anything about and that they will actually have to negotiate and get done is the debt ceiling. that is the big thing facing us right now. most likely in the first three weeks of january. >> what makes you give back into the market? what makes you put a position on? >> i think we'll see some panic during the first three weeks of january. i really do. >> a whoosh down and then start fishing. >> yes. i would like to see that same sort of panic that lifts us into the mid 20s for the vix. i don't want to see that folks but when scott is asking me when would i get back in, i'll get back in because i anticipate that panic because as these guys have proved, they said november 16th. we're not going to go to the end of the line to get this thing approved. they've come all the way to the end of the line. they will do the same thing with the debt cei
cliff here. something will be done. and there will be a look back and they'll correct the tax implications for all of us. but the thing they won't be able to do anything about and that they will actually have to negotiate and get done is the debt ceiling. that is the big thing facing us right now. most likely in the first three weeks of january. >> what makes you give back into the market? what makes you put a position on? >> i think we'll see some panic during the first three weeks...
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. >> are we going over the fiscal cliff? >> it dmends on what that means. i think 98% of our country can be assured that over the next short period of time, their income taxes are going to be the same, but this congress as you know has been more prepared than any to deal with the big issues or nation faces. and what you're seeing, jeff, is a derelection of duty at every level, a lack of courage to deal with the spending issues. unfortunately, you know, today the average american doesn't realize there's 40% of government services that they're not paying for. only one third of medicare is paid for by those people who actually use it. and because there's been this scherr shau ra charade going on, the left and ride shielding the people from the true cost of government, we don't have any constituency to help reduce government spending. because we even not dealt with that issue, there's been no progress on the entitlement spending. this is unfortunate going to carry on through to the debt ceiling debate. what that means is every american is going to be harmed bec
. >> are we going over the fiscal cliff? >> it dmends on what that means. i think 98% of our country can be assured that over the next short period of time, their income taxes are going to be the same, but this congress as you know has been more prepared than any to deal with the big issues or nation faces. and what you're seeing, jeff, is a derelection of duty at every level, a lack of courage to deal with the spending issues. unfortunately, you know, today the average american...
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that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the workload. and there would be unexpected higher taxes for most americans because remember, that's another part of the equation. so many different groups could be hit in many different ways at many times. but the bottom line is if these negotiations continue to stall and don't come through and the cliff comes, people will, indeed, feel it all over this country. >>> u.s. army general whose temper earned him the name stormin' norman has died. general norman schwarzkopf was one of the most celebrated military leaders in the post-vietnam era. he led coalition forces pushing iraq out of kuwait in 1991's "operation desert storm." the retired general died yesterday in tampa, florida, at age 78. >>> former president george h.w. bush released this statement. he says, "general schwarzkopf epitomized the duty, service, country creed that has defended our freedom and seen this great nation through our most trying international crises." >>> a spokesman for f
that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the workload. and there would be unexpected higher taxes for most americans because remember, that's another part of the equation. so many different groups could be hit in many different ways at many times. but the bottom line is if these negotiations continue to stall and don't come through and the cliff comes, people will, indeed, feel it all over this country. >>> u.s. army general whose temper...